The New, ‘Subprime Contained’

That’s how mainstream financial media labels it.

Not to worry, it’s only:

‘Isolated Fraud‘

Some know but probably most don’t, the banking laws were changed over a decade ago, in 2014.

Details about those changes, are here and here.

With that said, price action of ETF financial sectors KRE and XLF, have not completely melted down … yet (not advice, not a recommendation).

What they have done, is topped, reversed, and are now testing resistance levels; especially XLF.

Financial Sector XLF, Daily Close

For reference, the all-time high and reversal (still intact) was first discussed here.

Also shown, is the Fibonacci time sequence that appears to be in-effect.

Fibonacci sequencing tends to work best when markets are highly emotional (like now).

Monday, is ‘Day 8’.

Let’s see what happens next.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279